..or get a new tailor. 
That could be a thread all on its own.
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This makes me shake my head, many of my acquaintances do the same, being self sufficient contractors they've already budgeted for rainy days out of contract etc and have the money, but some got chopped by IR35.
Now this is where my p1$$ starts to boil as HMRC have nothing but contempt for these 'tax evading scumbags' but wait how much ACT(corp tax if you're saying huh?) have you paid from your ltd company plus dividend tax means you STILL contributed way more than most freeloading permies in this country from a tax perspective. They seem to forget there's a difference between what you should be taxed according to their own rules ffs and what they believe you DESERVE to be taxed. As As i said most contractors wont claim a bean anyway because they can afford these blips.
Meanwhile the ones who weren't so fortunate and lose their income due months back already due to hmrc pulling the rug with IR35(instigated by HMRC who insist there are two types of workers only Permies and tax evaders) are suffering, hmrc says go screw yourselves as you've been evading taxes, no they've been running a ltd company the most tax efficient way which is all legal remember and they don't get sick pay or holiday pay, but no because they're earning a good salary people become resentful. Not their problem they're sticking their necks out and going it alone. What a joker.
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Well, had this through from my accountant yesterday. Something I suppose.
CORONAVIRUS FINANCIAL SUPPORT
FURTHER UPDATE FOR DIRECTORS OF LIMITED COMPANIES
We now have some clarity on the “furloughing” of director’s wages and can confirm that in certain circumstances 80% of this will be recoverable. The main conditions to be aware of are that during the furlough period, the director should not generate any business income or undertake any work on behalf of the company. Therefore, if a director is continuing to work this allowance will not apply (this aligns with the rules for employees). The minimum furlough period is 3 weeks and at the present time the maximum period has been set as 3 months. We will provide further detailed information in respect of this matter in the coming days.
CORONAVIRUS FINANCIAL SUPPORT
FURTHER UPDATE FOR DIRECTORS OF LIMITED COMPANIES
We now have some clarity on the “furloughing” of director’s wages and can confirm that in certain circumstances 80% of this will be recoverable. The main conditions to be aware of are that during the furlough period, the director should not generate any business income or undertake any work on behalf of the company. Therefore, if a director is continuing to work this allowance will not apply (this aligns with the rules for employees). The minimum furlough period is 3 weeks and at the present time the maximum period has been set as 3 months. We will provide further detailed information in respect of this matter in the coming days.
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Preston bus station
E
EddieM
Or even to cover trading while claiming not to be!
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- Joined
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Durin the war... Oh shoosh i put corp tax slip of the type gave me ACTACT was scrapped in 1999 you old fogie!
